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386 Highgate Ave
Worthington, OH

386 Highgate Ave

$799,900
4 bd • 3 ba • 2,683 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$799,900

Price/Sq.Ft

$298

Year Built

1967

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This mid-century brick home in Worthington offers exceptional value at $298.14/sqft, which is approximately 15% below the average of $350/sqft for similar homes in the area. The property has appreciated 38.8% since its last sale in 2019, outperforming the local market average of 25% over the same period. At 2,683 sqft, it's 20% larger than the median home size in Worthington (2,236 sqft), providing ample space for families or those who need extra room. The home boasts high-end features like a gourmet kitchen with premium appliances (estimated value: $15,000-$20,000), hardwood floors throughout (typical cost: $20,000-$30,000 for this size home), and a newly renovated owner's suite bathroom (estimated value: $15,000-$25,000). The property's location is prime, with highly-rated schools nearby (Evening Street Elementary: 8/10, Thomas Worthington High: 7/10) and easy access to amenities. Climate risk is exceptionally low, with minimal flood (1/10) and fire (1/10) risks, significantly reducing potential insurance costs and future climate-related expenses.

The Bad

While the home has many positive attributes, there are some potential drawbacks. The property's age (built in 1967) may necessitate updates to major systems in the near future. For example, if the HVAC system is original, replacement could cost $10,000-$15,000. The roof, if not recently replaced, might need attention within 5-10 years (estimated cost: $15,000-$20,000 for a home this size). The current listing price of $799,900 is at the higher end of the Worthington market, which could limit the potential buyer pool. Additionally, property taxes in Worthington are known to be high due to the excellent school system, which could add significantly to the monthly ownership costs (estimated at $10,000-$12,000 annually based on the sale price). The moderate heat risk (3/10) suggests that summer cooling costs may be higher than average, potentially adding $200-$300 to annual utility expenses.

The Ugly

The most concerning aspect of this property is the potential for hidden issues due to its age. At 56 years old, there's a risk of outdated electrical systems, which could require a full rewiring at a cost of $15,000-$25,000. Plumbing issues are also common in homes of this age, with potential for lead pipes or deteriorating main lines, which could cost $5,000-$10,000 to address. The moderate air quality risk (3/10) could be problematic for residents with respiratory issues, potentially requiring the installation of a whole-house air filtration system ($2,000-$5,000). Additionally, the rapid appreciation of 38.8% since 2019 raises concerns about potential overvaluation in the current market, which could lead to challenges in future resale or refinancing if the market corrects. Lastly, while the 2-car garage is a positive feature, the driveway appears narrow in the provided images, which could be inconvenient for larger vehicles or multiple drivers.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideally suited for upper-middle-class families or professionals with a household income of $200,000+ annually, considering the purchase price and potential property taxes. It's perfect for those prioritizing excellent schools and a family-friendly neighborhood. The spacious layout and custom playroom make it ideal for families with children or those planning to expand. The gourmet kitchen and entertainment spaces cater to buyers who enjoy hosting and cooking. Empty nesters looking for a forever home with room for visiting family would also find this property attractive. Investors might consider this property for its strong appreciation potential and the possibility of commanding high-end rental rates ($2,500-$3,000/month) in this desirable area.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to the high purchase price and potential for costly updates. Individuals or couples seeking a low-maintenance lifestyle may find the large lot and older home systems overwhelming. It's not ideal for those prioritizing new construction or modern, open-concept layouts typical in newer homes. Buyers looking for immediate rental income might find the high purchase price challenging for achieving positive cash flow in the short term. Additionally, those with mobility issues might struggle with the multi-level layout, as there's no mention of an elevator or first-floor primary bedroom.
Demographics
Area Median Income

$103,287

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Risk Assessment

Climate Risks

airMODERATE

3 bad air quality days per year

heatMODERATE

7 extreme heat days per year

98th percentile: 100°F

windMINOR

Insurance: Recommended

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

The primary risks include potential major system failures due to the home's age, such as HVAC, roofing, electrical, or plumbing issues, which could result in unexpected expenses of $20,000-$50,000 over the next 5-10 years. The rapid appreciation since 2019 (38.8%) suggests a risk of market correction, potentially impacting future resale value. While flood risk is minimal, the moderate heat risk (3/10) indicates potential for increased cooling costs and comfort issues during peak summer months. The air quality risk (3/10) could necessitate additional air filtration measures. There's also a risk of stricter energy efficiency regulations in the future, which could require costly upgrades to windows, insulation, or appliances to meet new standards. Lastly, the competitive Worthington market could lead to bidding wars, potentially pushing the final sale price above the current listing, further stretching affordability for some buyers.
Insurance
Annual Cost

$2,880

$240 per month

Financials

Monthly Costs

Price History

Property Taxes

$11,450
2023 Tax Assessment
6.9%from previous year
Assessed Value$188,410
Tax Rate6.08%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$595,333

-25.6% below list price

Median Price

$560,000

Based on 6 recent sales

Price per Sq.Ft

$237

Comparable Properties

495 Haymore Avenue S, Worthington, OH 43085
Price: $560,000
Sq.Ft: 2,811
Beds/Baths: 4/3
$/Sq.Ft:
$19933.2%
Sale Date: 9/25/2024
129 E South Street, Worthington, OH 43085
Price: $850,000
Sq.Ft: 3,016
Beds/Baths: 5/3
$/Sq.Ft:
$2825.5%
Sale Date: 10/4/2024
6446 Strathaven Court E #2D, Columbus, OH 43085
Price: $363,000
Sq.Ft: 2,162
Beds/Baths: 3/3
$/Sq.Ft:
$16843.7%
Sale Date: 10/11/2024
488 Whitney Avenue, Worthington, OH 43085
Price: $559,000
Sq.Ft: 2,196
Beds/Baths: 4/3
$/Sq.Ft:
$25514.6%
Sale Date: 10/1/2024
7043 Olentangy River Road, Columbus, OH 43235
Price: $450,000
Sq.Ft: 2,300
Beds/Baths: 4/3
$/Sq.Ft:
$19634.4%
Sale Date: 9/11/2024
525 Hartford Street, Worthington, OH 43085
Price: $790,000
Sq.Ft: 2,453
Beds/Baths: 4/3
$/Sq.Ft:
$3228.0%
Sale Date: 8/16/2024

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